T. WATKINS LIGON, ESQUIRE, GOVERNOR.

503

and comply with all the conditions imposed upon the
original parties insured, and any person insuring may
at any time have his policy cancelled, his premium
note returned or judgments entered satisfied, or cash
paid in advance as premium returned; Provided, no
losses shall have been incurred, and such person so
withdrawing, in the event of no loss being sustained
by the company, shall be entitled to one-half the in-
terest paid by him, her or them; and also to one-half
of the interest on the cash advanced as premium by
him, her or them.

SEC. 13. And be it enacted, That at the expira-
tion of seven years from the date of the first policy,
or so soon as the net profits shall exceed the sum of
twenty-five thousand dollars a dividend of the net
profits of the company shall be declared and distrib-
uted amongst the members in proportion to the
amount and duration of their policies; and such divi-
dends shall be made from time to time in the discretion
of the directors, and no dividend shall be made at
any time which shall reduce the amount of net profits
on hand below the sum of twenty-five thousand dol-
lars; but said sum shall remain as an active capital
to meet losses, and the same may be increased in the
discretion of the directors, by withholding dividends
of the surplus beyond said amount.

Dividends.

SEC. 14. And be it enacted, That all investments
of interest, money or cash paid in advance as premi-
um, shall be made in such manner as the board of
directors may direct.

Investments.

SEC. 15. And be it enacted, That the directors
shall annually publish in one or more newspapers
published in Charles county, a statement showing
the amount of premium notes, judgments and cash
advanced, amount of losses incurred, expenses and
net profits.

Directors to
make a state-
ment annually
of the amount
of premium
notes.

SEC. 16. And be it enacted, That no member of
this company shall be answerable for any losses which
may be sustained beyond the amount of his premium
note or judgment, or cash advanced by way of pre-
mium.

Liability.

SEC. 17. And be it enacted, That in the suit by
or against the said company, no member of the cor-
poration shall on that account, if he be not a party
to such suit or suits in his individual capacity, be in-
competent as a witness.

Competent
witness.

SEC. 18. And be it enacted, That a general meet-
ing of the members of the company may be called in

General meet-
ings.